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Massmart Reporting Growth Across Its Portfolio

Published on Aug 29 2016 5:19 PM in Retail tagged: Retail / South Africa / Massmart Holdings Limited

Massmart Reporting Growth Across Its Portfolio

Walmart owned Massmart Holdings Limited has reported a total sales increase of 8.7% for the first half of 2016. Comparable sales for the period increased by 6.4% and the trading profit for the Group grew by 13.5%.

Sales increased across the Group's banners, for Masscash (10.3%), Masswarehouse (9.2%), Massdiscounters (7.6%), and Massbuild (5.8%). Makro Carnival, which opened in April and is the Group’s first store to make use of renewable energy, is also trading well, as are Masscash Retail and DionWired, which both reported a growth in sales and trading-profit.

The Builders Warehouse division reported a declining growth in sales in South Africa, but saw its international sales grow above all expectations - by 60.3%. 

Commenting on the results, Massmart CEO, Guy Hayward, said: "Consumers are delaying purchases, trading down and reducing spending on durable goods, to support spending on semi- and non-durables. This has meant general merchandise sales have softened, while food sales have been stronger across all major categories."

In the next two years the Massmart Group intends to open stores in Ghana, Mozambique, Nigeria and Zambia.

2016 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. To subscribe to ESM: The European Supermarket Magazine, click here.

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